NABARD Current Affairs Quiz: 14 October 2026

India stands first in the world both in making coir and in selling it abroad, and about two-thirds of global coir output comes from Indian units.

The third edition of the conclave was held there, and Dr Sukanta Majumdar, Union Minister of State for Development of North Eastern Region and for Education, addressed it on 13 October 2026, asking banks to widen their reach and lend more readily in the region.

MSCARO stands for the Multi-State Co-operative Societies (Auditor’s Report) Order, and the version mandated now creates a uniform, structured and risk-based framework in which auditors report on financial, administrative, governance and statutory compliance parameters through a standard format with clear Yes or No answers and remarks.

The correct answer is ₹6,614.40 crore, the value of coir and coir product exports in FY 2025-26.

The minister said that out of the 9,479 villages identified for coverage in the Northeast, 6,905 now have either a bank branch or an India Post Payments Bank point, which comes to roughly 73 per cent.

That amendment gave the Central Government the power to prescribe auditing and accounting standards for these societies, and the new audit reporting order has been formulated in pursuance of the provision.

The scheme funds the development of machines, technologies and products, conducts skill training and promotional work, pushes sales in domestic as well as overseas markets, creates awareness through publicity and trade fairs, gives financial help to lift sales, takes exporters to international exhibitions and compiles the sector’s statistics.

That is the national credit-deposit ratio quoted at the conclave, and among the Northeastern states Manipur and Assam stand at or above it while Mizoram and several others fall short.

Implementation has deliberately been made phased, and the first phase covers larger societies that cross this threshold in the relevant financial parameters, so that smaller institutions have extra time to strengthen their internal systems and processes before the enhanced reporting reaches them.

Bringing these units on to the Udyam registration portal places them inside the formal MSME policy system, so they can reach the credit, training and market support the government offers.

For the Northeast the population needed to justify a bank branch has been brought down to 2,000 on a cluster basis, which is lower than the norm of 3,000 that applies across the country, and the relaxation exists because habitations in the region are smaller and more scattered.